Sensex ends above 60,000; Nifty at 17,853; Metal stocks slide, IT shines

Stock market Live: The Nifty Realty rose nearly 3 per cent, while Nifty IT was up 1.6 per cent

Image SI Reporter New Delhi
Stock market, BSE, sensex, markets

The S&P BSE Sensex scripted history and ended above the 60,000-mark for the first time on Friday. The BSE barometer added 163 points to close at 60,048, after falling scaling a new peak of 60,333 in intra-day deals. It's NSE counterpart, Nifty50, too closed at fresh closing peak of 17,853, up 30 points. The index had hit a new lifetime high of 17,948 earlier today.

Asian Paints, Eicher Motors, M&M, HCL Technologies and HDFC Bank were the top gainers on the Nifty, while Tata Steel, JSW Steel, SBI, Divis Labs and Axis Bank were the top laggards.

In the broader markets, the BSE MidCap index fell 1 per cent, while SmallCap index slipped 0.3 per cent. Barring, Nifty IT, Auto and Realty all other sectoral indices, ended in the red.

3:58 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed a week at 17853 zone with gains of one & half percent on weekly basis and formed a bullish candle on the weekly chart for a second consecutive week. For upcoming session, index has shifted its support zone to 17750-17650 so any dip near mentioned support zone will be again fresh buying opportunity with keeping stop out level below 17650 zone & if said levels are held we may see the index march towards 18k mark, resistance is still placed around 17900-18000 zone where traders can lock some of their long gains.
3:57 PM

VIEW :: Remain invested irrespective of market levels

Market levels are just incidental. All time highs (ATH) don’t mean much because every ATH is preceded by a series of ATHs and I am sure it will be succeded by many more to come. We continue to ask our clients to remain fully invested, irrespective of the levels as market timing is a futile exercise. 2010 to 2020 saw series of false starts in the markets coupled with multiple economic disruptions which has made 2021 hard to believe for most stock market participants but if globally supportive macro conditions persist and India continues to stand out on relative merit in light of our Government’s reform approach, one can believe this market has legs. The surge of FII inflows (US$ 38bn) into India since April 2020 suggests that foreign investors continue to place confidence in India’s diverse corporate universe with it’s alpha opportunities.

- Aashish Somaiyaa, Chief Executive Officer - White Oak Capital
3:56 PM

'Mid & smallcap stocks could stay under pressure in short-term'

Weak global market did not affect the upside momentum of the domestic market to hit record highs boosted by realty and IT stocks. India is seizing a sweet spot in the global equity market with the increase in domestic investors. However, profit-booking was noticeable in mid & small-cap stocks, which were under pressure and it can continue in the short-term. Realty stocks continued to outperform other sectors owing to an increase in property registrations, and cut in stamp duty (Karnataka) and home loan rates.

Views by: Vinod Nair, Head of Research at Geojit Financial Services
3:55 PM

PVR slips over 3% on CRISIL rating downgrade

>> CRISIL downgraded its ratings on the bank facilities and debt programmes of the multiplex operator
3:52 PM

IRCON International climbs 3% on winning bid to set up 500 MW solar power plant

>> Ircon International (IRCON) has won a bid to set-up 500 MW solar power plant through e-Reverse auction with a Viability Gap Funding (VGF) of Rs 224.70 crore under CPSU Scheme-II floated by Indian Renewable Energy Development Agency (IREDA). The approximate cost of the project is Rs.2400 crore.
3:50 PM

AB Capital gains 2% as Aditya Birla Sun Life AMC files for IPO

>> IPO will open on September 29 with a price band of Rs 695-712 per share
3:48 PM

Airtel hits fresh high in intra-day deals, ends 2% higher

>> The stock traded higher ahead of ex-date for rights issue on Monday, September 27, 2021. The company’s Rs 21,000-crore rights issue will remain open for subscription between October 5 and October 21.
3:47 PM

Listing Day Action:: Sansera Engineering ends above listing price

>> The stock had debuted at 9% premium over the issue price of Rs 744
3:45 PM

Market bread favours sellers!

3:43 PM

NIFTY METAL tanks over 2%, worst sectoral performer

>> Welspun Corp only gainer in the 15 pack index
3:42 PM

Dream run in realty stocks continue; Nifty Realty index best sectoral performer

3:41 PM

Sector Watch :: Realty, IT shine; metal slides the most

3:39 PM

Broader markets underperform benchmark Nifty50

>> Nifty Midcap100 tumbles 1%
3:36 PM

Sensex Heatmap | Only 11 of 30 Sensex stocks end in the green

>> TOP GAINERS: Asian Paints, M&M, HCL Tech

>> TOP LOSERS: Tata Steel, SBI, Axis Bank, NTPC
3:34 PM

CLOSING ALERT :: Nifty50 holds 17,850 at close

3:33 PM

CLOSING BELL :: Sensex scripts history, ends above 60K mark for first time

>> The index recorded its fastest 10,000-point jump 
3:28 PM

Global oil and gas investment will be 30% below pre-Covid level: ONGC

Delivering his speech at the 28th Annual General Meeting of the company, Kumar said, “Last year, global upstream investments sank to a 15-year low at $350 billion, as operators focused predominantly on conserving cash flows and protecting their balance sheets by cutting their expenditures. While investments are expected to increase by 3-4 per cent this year, it would still be around 30 per cent lower than pre-pandemic levels.” READ MORE

3:21 PM

Evergrande's billionaire boss Hui Ka Yan exudes calm amid crisis

But now Hui's highly leveraged business strategy is unravelling. Beijing's tightening of the rules around debt and speculation in the property sector have tipped Evergrande into a liquidity crisis and with liabilities equivalent to around 1.97 trillion yuan ($302 billion) - roughly the size of Finland's GDP - markets are on tenterhooks about contagion risk. READ MORE
3:03 PM

MARKET VIEW :: Naveen Kulkarni, Chief Investment Officer, Axis Securities

Crossing the 60k mark is another milestone for the market.  We could see many more positive surprises from the market in the next one-two years, as we are entering into a positive upcycle of earnings trajectory. The overall market trajectory continues to be positive, and dips should be utilized to build long-term positions in quality companies for more sustainable returns. A quality theme is back in focus, and we continue to see the broader market doing well, as the visibility on broad-based earnings is still intact. A fully functional economy over the upcoming festival season and the sustenance of earnings momentum in Q2 FY22 are the near-term triggers for the market.
2:52 PM

Journey of Sensex by Ashish Chauhan, MD & CEO of BSE

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First Published: Sep 24 2021 | 8:31 AM IST

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